The sale price achieved by the former New York governor for the 144 rental units in the First Avenue tower that his father developed in the 1980s well exceeds earlier estimates.

Former governor Eliot Spitzer sold 144 units at the Corinthian located at 330 E. 38th St.

Former governor Eliot Spitzer, back to focusing on his family's real estate empire, has just struck a deal to sell a big package of apartments it has owned for decades for $147 million.

Mr. Spitzer, who now presides over his family's real estate business, sold 144 rental apartments his family owns in the Corinthian, a huge condo building it developed on the city's east side in the mid 1980s. Gaia Real Estate, an investment firm that previously purchased space at the property, is the buyer.

The sale exceeded the initial $144 million estimate by Bob Knakal, chairman of the real estate sales brokerage firm Massey Knakal Realty who handled the sale for Mr. Spitzer, and illustrates how hot the city's residential market has become. Mr. Knakal could not be reached to confirm or comment on the sale. Executives at Gaia also did not immediately respond to a request for comment nor did Mr. Spitzer.

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Gaia has the option now to continue to operate the apartments as rentals as the Spitzers did, or convert them into condo apartments and sell them off. The units are scattered throughout the Corinthian, a 57-story, 863-unit tower that the Spitzers finished in 1987. The family, led then by Eliot's father Bernard, developed the property, one of the city's largest condo towers, with the intention of selling all of the units. But when the real estate market slowed in the late 1980s, the Spitzers decided to hold onto the block of 144 apartments and rent them rather than sell at a discount.

Gaia has purchased space at the property before. Late last year the firm acquired the building's entire 50th floor from the pharmaceutical firm Pfizer, which had used the space as apartment suites for its executives.

The property is located on First Avenue on the entire block front between East 37th and East 38th streets and has a distinct, turreted facade that offers sweeping wraparound views.

Since running an unsuccessful campaign for city comptroller last year, former governor Eliot Spitzer has turned his attention to real estate and has been active acquiring properties. In recent months, he bought a large development site in the Hudson Yards for $88 million. Mr. Knakal sold Mr. Spitzer that site. Mr. Spitzer's father Bernard is now in his 80s and is no longer active in the real estate business.